DMAX iShares Large Cap Max Buffer Dec ETF
Absorbs losses from 0.5% to 100.0% on IVV and caps the gain at 6.3%, over a period ending Dec 31, 2026
As of Sep 10, 2026, DMAX has reached its cap.
Key facts
In plain words
The fund's own price can still drift up to about 2.2% as the period runs out. The fund's price can fall 4.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, IVV can fall 10.5% from today's level to the point where the buffer begins. Protection left, in index points: 99.5% of the 99.5% buffer still sits below today's IVV level. 112 days remained on Sep 10, 2026. On Dec 31, 2026 the period ends and a new cap is set.
| Reference index | IVV |
|---|---|
| Buffer | 0% to 100% |
| Outcome period | Jan 1, 2026 to Dec 31, 2026 |
| Starting cap | +6.3% |
| IVV return since period start | +11.2% |
| Fund return since period start | not published |
| Net assets (source, as filed for Apr 30, 2026) | $137m |
| Band state today (ETFIQ) | At cap |
| Can still gain (issuer, fund price) | 2.2% |
| Fall before buffer (issuer, fund price) | 4.3% |
| Fall to the buffer in index terms (ETFIQ) | 10.5% |
| Protection left in index points (ETFIQ) | 99.5% of 99.5% |
| Days left in period | 112 |
| Expense ratio (issuer page, Sep 10, 2026) | 0.50% |
Issuer-published figures as of the date shown; ETFIQ calculations marked. Definitions on the learn page. How these figures are computed
Questions people ask
- How much can DMAX still gain?
- Nothing more in index terms on Sep 10, 2026. IVV has already passed the cap of +6.3% for this period, which runs from Jan 1, 2026 to Dec 31, 2026.
- How far can DMAX fall before the buffer helps?
- 4.3% in fund-price terms on Sep 10, 2026, by the issuer's figure. In index terms IVV can fall 10.5% from that level before the buffer begins. Losses until that point are the holder's.
- How much of the DMAX buffer is left?
- 99.5% of the 99.5% buffer sat below the IVV level on Sep 10, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.
- When does DMAX reset?
- The outcome period ends on Dec 31, 2026, 112 days from the data on Sep 10, 2026. A new cap is set the next day and the buffer starts again.
- What does DMAX cost?
- The prospectus expense ratio is 0.50% a year.
The words on this page
- Buffer
- The first slice of loss the fund absorbs for you over its outcome period, stated on the reference index. A 15% buffer means the index can fall 15% before you take any of it.
- Cap
- The most the fund can return over the period, however far the index rises. It is the price paid for the buffer.
- Outcome period
- The window the buffer and cap apply over, usually a year. Both are set at the start and only hold if you are there for the whole of it.
- Reset
- The day one outcome period ends and the next begins, with a fresh buffer and a fresh cap struck at that day’s level.
- Protection left
- The part of the buffer still below today’s index level. A buffer bought mid-period is not the full buffer; this is what is left of it.
Every term used here, defined in full on the buffer ETFs vocabulary page.
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
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Cite this page. ETFIQ, DMAX, buffer ETFs, data as of Sep 10, 2026. https://etfiq.com/funds/DMAX Free to use with attribution; the underlying files are at Open data.